New Tremors in Global Finance and Trade
A long period of sluggish growth as a result of bloated government debt would be the equivalent of an extended bout with cancer after the heart attack that our economies have just survived. Prevention begins by curbing trade friction and developing sensible post-crisis monetary and fiscal exit strategies, sooner rather than later.
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PALO ALTO – With the American and global economies in the early stages of post-recession recovery, serious questions remain about that recovery’s strength and sustainability. In addition to traditional business-cycle concerns, there is a long list of policy tensions threatening to curb growth, including: 1) protectionism; 2) currencies; 3) monetary- and fiscal-stimulus exit strategies; and 4) the explosion of public debt.